Abstract:Recently, due to the massive pandemic effect, the global recession, and the ongoing Russia-Ukraine war, inflation has become a serious problem in the UK. According to chief economist Huw Pill, the Bank of England will likely raise interest rates.
Recently, due to the massive pandemic effect, global recession, and the ongoing Russia-Ukraine war, inflation has become a serious problem in the UK. According to chief economist Huw Pill, the Bank of England will be likely to rise interest rates.
In order to prevent inflation from leading to wages and prices hike, Huw Pill warns that interest rates are likely to rise further. UK CPI inflation returned to a 40-year high of 10.1% in September on the back of rising food prices. i, in an attempt to prevent inflation leading to a spiral of higher wages and prices.
According to Deutsche Bank (DB), a deep, long-term UK recession may have started. The investment bank's chief UK economist, Sanjay Raja, predicted UK GDP fell by 0.6% quarter-on-quarter from July to September 2022, which could be the start of a recession.
“The drop in Q3 GDP reflects continued weakness in household and business confidence, higher inflation, and higher interest rates in the economy, with household consumption contracting in the quarter, business investment slowing, and government spending falling further,” Raja said.
“We also expect to see a material softening in inventories after two consecutive quarters of historically strong stockpiling, which should push GDP firmly into negative territory,” he added.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Italy’s Companies and Exchange Commission (CONSOB) has taken action to block access to five new websites offering financial services and products illegally.
The Commodity Futures Trading Commission (CFTC) recently took action against Darren Robinson and his Wyoming-based firm for orchestrating a fraudulent forex scheme, resulting in a hefty judgment of over $5.9 million in restitution and civil penalties.
Amidst an ongoing legal battle, Tristian Talbot and Harri Jean David Sawicki, reportedly overseeing Funded Engineer and its crucial website, face dispute resolution in Palm Beach County, Florida, over alleged contractual breaches following an FPFX audit revealing manipulative practices, triggering significant revenue losses and terminated agreements.
This article outlines 10 common mistakes to avoid, including emotional trading, over-leveraging, and broker selection pitfalls. Discover strategies for success and protect your investments.